Centurion Cuts Joint Venture Deal With Duran Ventures, Arranges Private Placement

Centurion Minerals Ltd. has carved out an option agreement with Duran Ventures, which entitles Centurion to earn up to 60% interest in the Corongo property in Peru. This ten-concession property contains several gold/silver/copper showings and historical mines. Centurion can earn 50% by spendng US$1 million on property exploration by Dec. 31, 2011, with $200,000 spent by the end of this year, and by issuing 1 million shares to Duran on a phased basis. Once the 50% is earned, Centurion can earn another 10% by $250,000 additional exploration spending within 12 subsequent months and issuance of 250,000 shares within 120 subsequent days. The news release has further details, and also spells out the details of a $200,000 private placement of 2 million shares and warrants.

Occasionally-traded Centurion has not traded so far today. It last traded yesterday, closing at 7 cents for a gain of 3 cents. Current bid is also 7 cents, while current ask is 30 cents. Duran has traded today, at 10 cents, leaving it unchanged from yesterday. Bid-ask for Duran is 9.5 - 11.

Centurion's Google Finance web page is here, and Duran's is here.

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